Brian Easton: How Did FTX Crash?

What seemed a booming success a couple of years ago has collapsed into fraud convictions.

I looked at the crash of FTX (short for ‘Futures Exchange’) in November 2022 to see whether it would impact on the financial system as a whole. Fortunately there was barely a ripple, probably because it was too small and most investors were not sufficiently integrated into the rest of the financial system to be borrowing from it to speculate on cryptocurrencies,

The future of money is digital – but NZ needs a careful framework to prevent the pitfalls of cryptocurrency

New Zealand’s central bank is preparing for a future that includes the mainstream use of cryptocurrency.

At the end of last year, the Reserve Bank of New Zealand (RBNZ) published an issues paper, Private Innovation: Te Auahatanga, on digital currencies. The paper sparked a wide-ranging discussion on the development of the cryptoasset market and how to respond to the challenges it presents.

The RBNZ received 50 submissions on its paper, with consultation ending in April. A summary of the submissions was recently published.

We took a look at the key concerns held by those who participated in the consultation and what these concerns could mean for the uptake of cryptocurrencies in New Zealand.